Real Estate is a non-stop, ever growing industry. Humans will always need a place that they can call their own and this is where the real estate agents of the world come into the picture! This also presents you with some amazing opportunities as far as careers go. There is no limit to how far you up the ladder you can climb… except for your own choices. Have you thought about what type of agent you want to become? Do you want to represent buyers exclusively? Or are you looking to represent all of those owners who want to sell their property? Wait just a minute… aren’t mortgages part of the real estate business too? Yes, but that is a completely separate topic altogether; one that is every bit as detail-oriented and customer/client driven as real estate is.
There are two separate type of agency- that is representation of clients; a buyer’s agent and a seller’s agent. There are small, but subtle differences between these two positions. Are you representing the buyer or the seller in the transaction? In this case that party you are representing is your client. A buyer, seller or renter that you do not exclusively represent is a customer only. You can choose to become either a Buyer’s Agent or a Seller’s Agent, but you cannot represent both the buyer and the seller by yourself… unless the seller is your client in the first place. This scenario will come about when you are showing and/or selling one of your own listed properties. That gets tricky.
The challenges, rewards and opportunities that can be found in the real estate industry are well worth the time and effort to obtain your license. Do you realize that, as a Realtor or real estate agent that you are an Independent Contractor? Many people do not know this at first, unless they know someone in real estate. This means that you actually work for yourself but under a real estate broker’s direct authority and representation. You are paid by commission (not a set salary), which can provide you with a great income if you are a real go-getter who has plenty of listings and clients to work with. The more properties you sell for your clients and the agency you work under; the better your paychecks will get.
A Buyer’s Agent only represents buyers in any transaction/deal in which their buyer client is purchasing a piece of property. They do not deal with the sellers very much, nor can a Buyer’s Agent advise a seller in any way in regards to their property or what their clients have discussed in confidence.
Along with this there are also Seller’s Agents who work exclusively with the sellers (owners) of a property can get them the best possible deal of their property. Here again, The Seller’s Agent does not represent the Buyers and as such cannot give them any type of advice to them at all. Both of these are exclusive and binding agreements made between the buyer or seller and the agent.